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Nov 15, 2012
11/12
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as the president toured the impact zone, our first look at the bite sandy is taking out of the economy. the numbers reported this morning. sue herera live from the schwab impact conference in chicago with advice on how you can protect your portfolio against the fiscal cliff. now back to scott. >>> steve, at the top of the hour. have a bit of breaking news. we want to get out to phil lebeau. he's with sergio marcioni. >> i am. sergio marcione, the christ ler fee at man. the guy who has his fingers on the u.s. pulse and the european economy. you know how bad things can be in europe and how bad they are. you know what we're facing in the u.s. how concerned are you about the possibility of a fiscal cliff and what would happen to the auto industry if we approached that and went over that fiscal cliff? >> the second part of your question is almost -- there are a variety of possible outcomes. i have the utmost faith in the leadership here, however, it goes beyond the question of cars. the world is truly dependent. the americans don't understand how the world looks at the stability of the mark
as the president toured the impact zone, our first look at the bite sandy is taking out of the economy. the numbers reported this morning. sue herera live from the schwab impact conference in chicago with advice on how you can protect your portfolio against the fiscal cliff. now back to scott. >>> steve, at the top of the hour. have a bit of breaking news. we want to get out to phil lebeau. he's with sergio marcioni. >> i am. sergio marcione, the christ ler fee at man. the guy...
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Nov 9, 2012
11/12
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lot of people are pricing in optimism from sandy. the stock has outperformed the s&p by about 4%. you ought to take a look at the 10 k and what they have said, what they have been talking about is the fact that the repair and remodel business is at the end of the week. in the meantime since the beginning of october we have seen increase in lumber prices of over 10%. 20% of the net comes from lumber. you see an increase in the input cost. you might get incremental sales out of that. hurricane irene. there is a lot of good news priced in and maybe not bad news. fundamentally i think it might be overvalued here. >> mike is bearish. he is also buying a put spread. we did go through the play book with dan's trade. >> i am going to do something similar. i am going to buy a put spread specifically the january 57.5 puts and then sell the 55s against it for 50 cents. obviously less than 1% of the stock price gives me a little time for this to play out. i should see decay especially out of the cheaper option after the event. >> the technicals you cannot argue with. i like the structure. her
lot of people are pricing in optimism from sandy. the stock has outperformed the s&p by about 4%. you ought to take a look at the 10 k and what they have said, what they have been talking about is the fact that the repair and remodel business is at the end of the week. in the meantime since the beginning of october we have seen increase in lumber prices of over 10%. 20% of the net comes from lumber. you see an increase in the input cost. you might get incremental sales out of that....
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Nov 5, 2012
11/12
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auto sales slowed in october partly affected by sandy. ford rose .4% and chrysler rising 10% and toyota up 16%, all below expectations. and if you're one of the people who lined up for the star wars movies the first time around, you'll like this. the force may be with disney. the company is acquiring lucas films from george lucas for $4 billion. it has plans to make another 7th chapter in the series by 2015. there is so much to talk about this week from the final days before the presidential election to the economic impact of superstorm sandy. joining me now are two former presidential advisers, austan goolsbee, profess of at the booth school of business and former adviser to president obama and ed lazear, former adviser to george w. bush. thank you for joining us. >> nice to be with you. >> great to see you both. let's start with the jobs numbers on friday. the last jobs report before the election. what do they tell us about america's economy today and what impact do you expect it to have on the election. austan? >> i don't think it will
auto sales slowed in october partly affected by sandy. ford rose .4% and chrysler rising 10% and toyota up 16%, all below expectations. and if you're one of the people who lined up for the star wars movies the first time around, you'll like this. the force may be with disney. the company is acquiring lucas films from george lucas for $4 billion. it has plans to make another 7th chapter in the series by 2015. there is so much to talk about this week from the final days before the presidential...
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Nov 29, 2012
11/12
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>> i think hurricane sandy had an impact in the first week, ten days in the northeast. when you speak to kohl's they were weak across the country. you could say it's part of the election results. i think there are just issues that are there. i think it was just disappointing. fw again, it's a long holiday season. the hope is, and hope and prayer is you're going to have a better december. i think some of them will. what you want to look at, even though the department stores were all negative today, a lot of the apparel retailers were positive. 5%, 10%. that's a positive sign. >> quick comment on tiffany. huge miss. stock's a mess. is this company specific or is it luxury that we need to watch out for? >> i think it's, "a," it's company specific. i think it's luxury you want to watch. if any consumer is watching this fiscal cliff, it's really the luxury customers. it's not the american eagle customers. the american eagle customers think fiscal cliff is really a rock climbing event. >> steve, good to have you on the show as always. >> thanks a lot. >> murph, what do you do
>> i think hurricane sandy had an impact in the first week, ten days in the northeast. when you speak to kohl's they were weak across the country. you could say it's part of the election results. i think there are just issues that are there. i think it was just disappointing. fw again, it's a long holiday season. the hope is, and hope and prayer is you're going to have a better december. i think some of them will. what you want to look at, even though the department stores were all...
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Nov 1, 2012
11/12
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as far as sandy. they think that's going to dampen business in new york, which is a key market for them. >> maybe the impact felt in the quarter. >> i actually didn't do anything. i looked in the -- to doing an options trade on the stock today. i stayed away, because i was concerned about europe. the stock was down 15% last quarter. but expedia and travelline is saying the business is looking better. a selloff back to 600, i think it's -- >> confirmation from expedia? >> yeah, their international bookings growth was up 25% off expectations between 10 and 18%. it's a monster run after hours, it's not one i would chase. above 650. i believe the stock breaks out from a pretty well defined down trend. you have a little bit of a double bottom. i think 650 is your pivot point. otherwise, i'm in the camp looking for a pull back. >> while sandy's not expected to affect the labor department's payout tomorrow, it could have an impact on jobs and gdp in the future. drew, always good to speak with you. what's tom
as far as sandy. they think that's going to dampen business in new york, which is a key market for them. >> maybe the impact felt in the quarter. >> i actually didn't do anything. i looked in the -- to doing an options trade on the stock today. i stayed away, because i was concerned about europe. the stock was down 15% last quarter. but expedia and travelline is saying the business is looking better. a selloff back to 600, i think it's -- >> confirmation from expedia? >>...
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Nov 29, 2012
11/12
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hurricane sandy was directly in his district so he made some comments about it. he said that the damage was worse than first anticipated. that's something we've been talking a lot about. original number was $50 billion. it's in the $70 billion to $90 billion range. it is probably going to shave a quarter to half a point off gdp. you talked about the fiscal cliff which he says congress and the president must address. he says because we're at the zero balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve, thank you. >>> when jeff kilburg is not fired up about the irish he is fired up about what mr. dudley said today. why? >> absolutely. he came out with very dovish comments. he las
hurricane sandy was directly in his district so he made some comments about it. he said that the damage was worse than first anticipated. that's something we've been talking a lot about. original number was $50 billion. it's in the $70 billion to $90 billion range. it is probably going to shave a quarter to half a point off gdp. you talked about the fiscal cliff which he says congress and the president must address. he says because we're at the zero balance, interest rates were zero, the effect...
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Nov 20, 2012
11/12
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the sandy bump won't last. the real reason for the resurgence of the rental car business could be because of something that happens in washington. it is one word. and that word is consolidation! over the last decade this industry has seen a series of mergers that allowed the rental car companies to cut costs and also raise price. and with the recent acquisition of dollar thrifty by hertz, there are now only four players that really matter here. just four. and one of them, enterprise is private. which means you have only three possible ways to play this rental car bull market. there is hertz, second largest player through enterprise and the largest traded rental car company and avis. and now that dollar thrifty is taken over, the last one is zip car. it's been a total dog. now back in june before we knew about the dollar thrifty deal, i told you to buy hertz. it was best in breed. stay the heck away from zip car. because it felt like a flash in the pan. since then, hertz has given you 18% gain. zip car plummeted
the sandy bump won't last. the real reason for the resurgence of the rental car business could be because of something that happens in washington. it is one word. and that word is consolidation! over the last decade this industry has seen a series of mergers that allowed the rental car companies to cut costs and also raise price. and with the recent acquisition of dollar thrifty by hertz, there are now only four players that really matter here. just four. and one of them, enterprise is private....
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Nov 19, 2012
11/12
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sandy bump won't last. the real reason for the resurface of the rental car business could be because of what happens in washington. it is one word. and that word is consolidation! over the last decade this industry has seen a series of merge ez that allowed the rental car companies to cut costs and also raise price. and with the recent acquisition of dollar thrifty by hertz, there are now only four players that really matter here. just four. and one of them, enterprise is private. which means you have only three possible ways to play this bull market. there is hertz, second largest player through enterprise and the largest traded rental company and avis. and now that thrifty is taken over, the last one is zip car. it's been a total dog. now back in june before we knew about the dollar thrifty deal, i told you to buy hertz. it was best in breed. it was a heck away from zip car. because it fell like a flash in the pan. since then, hertz has given you 18% gain. zip car plummeted, wow, 30%. in august we found o
sandy bump won't last. the real reason for the resurface of the rental car business could be because of what happens in washington. it is one word. and that word is consolidation! over the last decade this industry has seen a series of merge ez that allowed the rental car companies to cut costs and also raise price. and with the recent acquisition of dollar thrifty by hertz, there are now only four players that really matter here. just four. and one of them, enterprise is private. which means...
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Nov 1, 2012
11/12
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after sandy. so stephanie link, if you have insur insured losses, some of the numbers hitting 50 billion could go higher. how are you thinking about the space today? >> there are some companies that are going to fair better. something like an aig which has surplus insurance, they have a better pricing power, so they can quickly raise prices, where as an all-state or travelers won't be able to price as aggressively. in terms of aig, the reason we own it, this is obviously a horrible situation, but i think it will be contained somewhat in the fourth quarter, maybe the first. it's really cleaned up its balance sheet and focusing on two business lines. casualty and life. i think the life business will start to see some momentum as he they get more distribution. i think they use the weakness to buy when the stock is trading at .6 times book value. >> mike murphy, you could see a bit of an earnings hit based on what the actual insured losses and payout turn out to be. which name in this space you think
after sandy. so stephanie link, if you have insur insured losses, some of the numbers hitting 50 billion could go higher. how are you thinking about the space today? >> there are some companies that are going to fair better. something like an aig which has surplus insurance, they have a better pricing power, so they can quickly raise prices, where as an all-state or travelers won't be able to price as aggressively. in terms of aig, the reason we own it, this is obviously a horrible...
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107
Jan 5, 2013
01/13
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there's sandy and debt ceiling. we'll see corporate management refer to those two things a lot. but forward guidance. this is what stocks will trade on. we'll know quickly what that looks like for the first half of the year. >> one quick point about the vix. it can be deceptive. when the vix is relatively low, 16, 17, and declines to 14, that seems like a big move. looking at october of 1987, that was when we had a market crash, one of the largest ones ever. so seeing a significant outperformance of the market coming off the heels of that, not really what we're looking at. we're not in the same position today as we were then. we're coming off a rally, not market crash. >> i know the year is young, but what led us higher last year are primarily leading us higher this year. financials and housing up 4%. for housing, experts getting bullish, upgrading the likes of citi, after the stock is up 20% in the past three months. >> these are cheap stocks. they were cheap 70% ago. bank of america is 100% from the lows early last year. so they're cheap stocks. they have a lot of leverage in
there's sandy and debt ceiling. we'll see corporate management refer to those two things a lot. but forward guidance. this is what stocks will trade on. we'll know quickly what that looks like for the first half of the year. >> one quick point about the vix. it can be deceptive. when the vix is relatively low, 16, 17, and declines to 14, that seems like a big move. looking at october of 1987, that was when we had a market crash, one of the largest ones ever. so seeing a significant...
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Nov 2, 2012
11/12
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lost in the hurricane sandy coverage was disney's massive 4 billion deal with lucasfilm. mickey and darth vader living together in the magic kingdom. the unit could include its animation unit getting back on track. julia has more. >> melissa, disney is paying $4 billion, half cash, half stock to acquire lucasfilms from its sole owner, george lucas. the centerpiece is "star wars", they have growth ee ee eed $4 b. analysts praised the deal its long-term prospects and disney's plans for another three "star wars" filming, next coming out in 2015, the same year bob iger says it will be ceded. lucas film generates $215 million from consumer products and disney is hoping to make that number much, much bigger. now, this deal comes the same week as disney is opening "wreck-it ralph" expected to gross north of $40 million at the u.s. box office this weekend. it's a disney animation movie but it's drawing the kind of rave reviews usually reserved for pixar films, not disney animation. following the strong performance of "tangled" last year, disnis animation under the leadership of j
lost in the hurricane sandy coverage was disney's massive 4 billion deal with lucasfilm. mickey and darth vader living together in the magic kingdom. the unit could include its animation unit getting back on track. julia has more. >> melissa, disney is paying $4 billion, half cash, half stock to acquire lucasfilms from its sole owner, george lucas. the centerpiece is "star wars", they have growth ee ee eed $4 b. analysts praised the deal its long-term prospects and disney's...
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Oct 31, 2012
10/12
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the first issue is obviously sandy occurred in the fourth quarter. that's going to have a material impact. as we said, we're significantly raising guidance for the fourth quarter. it will result in a rise for the year as well. that's really the portable generator demand. that's the in-rush much demand we see around an event that occurs -- unfortunately, when you get major destruction like this, you have a hard time actually finding gas for. but in the future and really for the next six to 12 months, we should see going into 2013, a greater demand for permanently installed packup systems. people have hit the turning point with frequency of outages, have come to the conclusion they need a backup plan that, frankly, is more permanent in nate tur. >> when it comes to the portables versus installed, i'm curious that the martins are different. there's another stream of ref knew which you get from servicing the units. >> the portables are sold through big box retailers. the margins on those products not kwied as good as on the installed products. installed
the first issue is obviously sandy occurred in the fourth quarter. that's going to have a material impact. as we said, we're significantly raising guidance for the fourth quarter. it will result in a rise for the year as well. that's really the portable generator demand. that's the in-rush much demand we see around an event that occurs -- unfortunately, when you get major destruction like this, you have a hard time actually finding gas for. but in the future and really for the next six to 12...
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Jul 25, 2012
07/12
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sandy weill thinks the big banks should break up. separating fact from fiction and separating all the earnings movers. big moves in the afterhours and we will give you the trade. stay tuned. >> want to beat the street? you better tweet the street. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidel [ male announcer ] while many automakers are just beginning to dabble with the idea of hybrid technology... it's already ingrained in our dna. during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. >> let's get t
sandy weill thinks the big banks should break up. separating fact from fiction and separating all the earnings movers. big moves in the afterhours and we will give you the trade. stay tuned. >> want to beat the street? you better tweet the street. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile...
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Nov 2, 2012
11/12
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superstorm sandy causing billions in damages. now companies are warning the storm will wreak havoc on earnings. the ce e o from clorox is here exclusively. >>> plus, sandy causing gas lines reminiscent of the 1970s throughout the new york area. we've got the latest details on the crisis and how ugly it's getting out there. >>> and at least those lines are over something essential like gasoline. check out all the people waiting to get their hands on apple's new mini ipad. there'sing in small about this show today. that and more next. [ male anno] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> welcome back. clorox just one of the many
superstorm sandy causing billions in damages. now companies are warning the storm will wreak havoc on earnings. the ce e o from clorox is here exclusively. >>> plus, sandy causing gas lines reminiscent of the 1970s throughout the new york area. we've got the latest details on the crisis and how ugly it's getting out there. >>> and at least those lines are over something essential like gasoline. check out all the people waiting to get their hands on apple's new mini ipad....
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Oct 31, 2012
10/12
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i've been calling local board of election officials in the sandy zone today. we've been able to get through to a couple of them. start with cape may, new jersey, that's the southern coastal portion of new jersey where i spoke with michael kennedy, the cape may county registrar. he toll me they are still evaluating conditions there. they're going to see how many polling places they're going to need to move. they had a couple in yacht clubs near the water but he said they're going to double those up with other polling places. further inland people will be able to vote there. he said the word he's getting is that the state of new jersey is going to lean to having an election on tuesday. that's the word from state officials there and they expect that most polling places will be open in cape may county, new jersey. however, he said the worst damage was in ocean county, new jersey. he doesn't have any word from election officials there. also in suffolk county, new york, i spoke with wayne rodgers, the republican board of elections commissioner up there. he told me t
i've been calling local board of election officials in the sandy zone today. we've been able to get through to a couple of them. start with cape may, new jersey, that's the southern coastal portion of new jersey where i spoke with michael kennedy, the cape may county registrar. he toll me they are still evaluating conditions there. they're going to see how many polling places they're going to need to move. they had a couple in yacht clubs near the water but he said they're going to double those...
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110
Dec 18, 2012
12/12
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hurricane sandy caused a lot of devastation. and one of the things that needs to be repaired is boats. and that's why i think brunswick corp, bc, could be a very good investment. despite what you may be worried about with the fiscal cliff. don't move. the lightning round is next. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. the lexus december to remember sales event is on. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults and children one year and older whose flu symptoms started within the last two days. before taking tamif
hurricane sandy caused a lot of devastation. and one of the things that needs to be repaired is boats. and that's why i think brunswick corp, bc, could be a very good investment. despite what you may be worried about with the fiscal cliff. don't move. the lightning round is next. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. the...
228
228
Dec 14, 2012
12/12
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and they have a sandy kicker. it is the number one manufacturer of portable generators, and they only account for 10% of company sales, but they have an easy to operate product, and when millions of people lost power for days or weeks after hurricane sandy, you better believe just about everybody stuck in that situation wished they had a generator. i think these people will not allow themselves to be caught without power again, which is why i bet portable generators will become a staple of hurricane preparedness, like candles and flashlights and batteries. that's very good news for briggs & stratton. let's get a closer look with todd teske, the president and ceo of briggs & stratton, to find out more about his company and where it's headed. welcome to "mad money". >> great to be here, jim. thanks. >> we can't have any illusions. hurricane sandy, generators are important, you are still primarily lawn and garden. we have a great housing bull market interrupted by periods of drought and bad weather. where do you thin
and they have a sandy kicker. it is the number one manufacturer of portable generators, and they only account for 10% of company sales, but they have an easy to operate product, and when millions of people lost power for days or weeks after hurricane sandy, you better believe just about everybody stuck in that situation wished they had a generator. i think these people will not allow themselves to be caught without power again, which is why i bet portable generators will become a staple of...
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187
Oct 29, 2012
10/12
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eye 187
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we've been hearing about sandy for a week now, right? tens of millions of feel are in the storm's path and they've all been warned to stock up on everything they might need in case the power goes out and transportation gets shut down. that's where dollar general comes in. as a classic stock-up play. how do i know? because not only does dollar general sell food, more important, they accept food stamps. as we heard over and over again from mitt romney, this election season, there are now 47 million people on food stamps. that's an increase of 14.7 million people or 46% since obama took office, and those people buy the smaller units at dollar general. say what you want about the president, the increase in food stamps is a huge tail wind for dollar general. and it's natural they would have some major stock-up business ahead of this storm. however, hurricane sandy is just icing on the cake for dollar general. i can't do any trades because they're too flawed but this investment, i like. i would be telling you to make this investment without th
we've been hearing about sandy for a week now, right? tens of millions of feel are in the storm's path and they've all been warned to stock up on everything they might need in case the power goes out and transportation gets shut down. that's where dollar general comes in. as a classic stock-up play. how do i know? because not only does dollar general sell food, more important, they accept food stamps. as we heard over and over again from mitt romney, this election season, there are now 47...
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166
Nov 4, 2012
11/12
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lost in the hurricane sandy coverage was disney's massive 4 billion deal with lucasfilm. mickey and darth vader living together in the magic kingdom. just imagine. the move is the latest in a turn around in which the studio unit could include its animation unit getting back on track. julia has more. >> melissa, disney is paying $4 billion, half cash, half stock to acquire lucasfilm from its sole owner, george lucas. the centerpiece is "star wars", they have grossed $4 billion. worldwide, generates billions of dollars more in games and consumer products. analysts praised the deal its long-term prospects and disney's plans for another three "star wars" filming, next coming out in 2015, the same year bob iger says it will be accretive. just as important as the movies are the consumer products, which is disney's area of expertise. lucas film generates $215 million in revenue this year from consumer products and disney is hoping to make that number much, much bigger. now, this deal comes the same week as disney is opening "wreck-it ralph" expected to gross north of $40 million
lost in the hurricane sandy coverage was disney's massive 4 billion deal with lucasfilm. mickey and darth vader living together in the magic kingdom. just imagine. the move is the latest in a turn around in which the studio unit could include its animation unit getting back on track. julia has more. >> melissa, disney is paying $4 billion, half cash, half stock to acquire lucasfilm from its sole owner, george lucas. the centerpiece is "star wars", they have grossed $4 billion....
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90
Feb 8, 2013
02/13
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eye 90
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it was jarring for many when the exchange closed last year for two days with hurricane sandy. this time the storm named nemo and it's confirmed, as usual. i say, hallelujah, this exchange and this stock market is the symbol of capital imp. we want everybody to be safe, but the markets are supposed to be highly technological. why should we stop business because of bad weather in one area of the world? it should take a loss more than some snow to close them. be safe and i'll see you on monday. pretty day on wall street. dow is up about 48 points. nasdaq up by 28. apple up with one and a half% at 4:74 and change. oppingds option begins now on cnbc. have a great weekend. stay safe. see you monday. >> this is "options action." tonight finding money in nemo. >> is this some kind of practical joke, it's not funny! >> no, not that nemo. this nemo. it has carter and ennis looking at a trade in home depot that can quadruple your money in three months. >>> is proktor a gamble? despite the fact they're the second best performer this year. why are all those options traders taking tesla cal
it was jarring for many when the exchange closed last year for two days with hurricane sandy. this time the storm named nemo and it's confirmed, as usual. i say, hallelujah, this exchange and this stock market is the symbol of capital imp. we want everybody to be safe, but the markets are supposed to be highly technological. why should we stop business because of bad weather in one area of the world? it should take a loss more than some snow to close them. be safe and i'll see you on monday....
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Dec 19, 2012
12/12
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eye 203
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some of the furniture that was unaffected from sandy hook has been moved there. as for the kids, still a process in the works. we are talking with counselors and with parents of the survivors. they want to make sure that they do this the right way. every one involved say it is important that they go back together. they think that is important for them. >> in a routine. jay gray, we appreciate it. thank you. all right. all right now, some better news, american oil and gas companies have so much product that they are ready to start exporting worldwide. but wait until you hear who is trying to stand in their way. free market capitalism is always the best path to prosperity. we will be right back. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide hi
some of the furniture that was unaffected from sandy hook has been moved there. as for the kids, still a process in the works. we are talking with counselors and with parents of the survivors. they want to make sure that they do this the right way. every one involved say it is important that they go back together. they think that is important for them. >> in a routine. jay gray, we appreciate it. thank you. all right. all right now, some better news, american oil and gas companies have so...
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Dec 14, 2012
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sandy, nice numbers. okay. let's talk about the buying opportunities and how allocate capital in the midst of all of thighs issues that we talk about so much, in particular the fiscal cliff. >> well, i don't think you can trade around the fiscal cliff. if you have cash and plenty of people have cash on the sidelines and you do get that sharp selloff because congress cannot avert the fiscal cliff and we fall over in the new year, take advantage of it and get into the market because it will be a terrific buying opportunity. >> should i be waiting though for the buying opportunity? in other words, we know capital gains taxes will be higher next year. should i be trying to get out of my winners and look for a market selloff to get back in? >> well, look, if you haven't taken gains this year, you should take more than you're normally accustomed to. i think that's a no-brainer, and if you want to -- if you want to wait for that buying opportunity, you're taking risk because if congress and the white house can get tha
sandy, nice numbers. okay. let's talk about the buying opportunities and how allocate capital in the midst of all of thighs issues that we talk about so much, in particular the fiscal cliff. >> well, i don't think you can trade around the fiscal cliff. if you have cash and plenty of people have cash on the sidelines and you do get that sharp selloff because congress cannot avert the fiscal cliff and we fall over in the new year, take advantage of it and get into the market because it will...
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Nov 1, 2012
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i want to get your take on this sandy factor and the stock market. >> i think sandy is a temporary story, but the way i think christie and other governors and mayors really pitched in suggests that we'll get through this fairly quickly and there will be serious commitments in terms of infrastructure and improvements. and i'll reemphasize your point. chinese purchasing survey was a little improved and you're right, if the purchasing manager survey in the u.s. is a little better as was consumer confidence. >> jack, what do you think, is sandy a big driver for stocks or is it the coming election and the possible outcome? >> i think it's one that you have a lot of underinvested what i call nonbelievers. i think we're entering the period of chasing returns. first of november i think we started since '09 where it's been up. which is indicative of what the next couple of months will bring. having said that, sandy will produce jobs. the question is will sandy produce more jobs than president obama did over the course of the last few years. and as far as the numbers, let's keep this in mind. i'm
i want to get your take on this sandy factor and the stock market. >> i think sandy is a temporary story, but the way i think christie and other governors and mayors really pitched in suggests that we'll get through this fairly quickly and there will be serious commitments in terms of infrastructure and improvements. and i'll reemphasize your point. chinese purchasing survey was a little improved and you're right, if the purchasing manager survey in the u.s. is a little better as was...
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Nov 1, 2012
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stocks don't fare sandy. a great day and the dow climbed 136 points. the kudlow report is just moments away. >> all
stocks don't fare sandy. a great day and the dow climbed 136 points. the kudlow report is just moments away. >> all
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Nov 19, 2012
11/12
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>> before hurricane sandy there was a much greater likelihood of the tax exempt on the block. after sandy there is so much focus on the need to rebuild and the debt that would have to be issued and what local communities will have to pay in terms of cost to borrowing that it is less of a likelihood but i will say from the entire 20 whatever years i have been in the business i think this is the first time that the threat to tax exemption is stronger. >> are you finding that investors are coming to your office panicked? should i do something now? should i sell? >> yields have come down significantly so they are not panicking. what we had seen pretty much since the election was that municipals were rallying. the one thing we all have to remember is that the likelihood of taxes going up is much more sure than whether bonds will be tax exempt or not. people will be looking at the likelihood of higher taxes. >> if you are an investor sitting at home you are thinking should i go into muni bonds. how would you walk through the basics with somebody? >> it is interesting. i was having a
>> before hurricane sandy there was a much greater likelihood of the tax exempt on the block. after sandy there is so much focus on the need to rebuild and the debt that would have to be issued and what local communities will have to pay in terms of cost to borrowing that it is less of a likelihood but i will say from the entire 20 whatever years i have been in the business i think this is the first time that the threat to tax exemption is stronger. >> are you finding that investors...
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Nov 13, 2012
11/12
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full impact of sandy won't be felt. color expected on the conference call but that could be a key driver going into the last quarter of the year. metrics on the quarter were good. best ticket growth in four years in terms of ticket size. average ticket 54.50. up 2.9% year on year. even below the surface the numbers were really solid for home depot. >> one of the things that blake talked about on the conference call is investment in your home starting to grow faster than gdp? he's used that as yardstick to say we're still not there yet. we're still not there even though he's been doing the numbers. i want to know whether we're there in surpassing it. yesterday there was a good conference call. people didn't like it. i think that was one of those judgments about people saying, you know what? i want to take profit. stocks up 53%. home depot looks like it's not going to fall prey to fiscal cliff profit taking. need to know more. very few stocks available to go through there. >> lowe's reports next week. lagged for 13 quarte
full impact of sandy won't be felt. color expected on the conference call but that could be a key driver going into the last quarter of the year. metrics on the quarter were good. best ticket growth in four years in terms of ticket size. average ticket 54.50. up 2.9% year on year. even below the surface the numbers were really solid for home depot. >> one of the things that blake talked about on the conference call is investment in your home starting to grow faster than gdp? he's used...
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Oct 30, 2012
10/12
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today on "power lunch," surviving sandy. three important areas we're going to focus on, insurance and the frightening comparison. one insurance executive is making about the impact of sandy. a hit to the retail sector, damage to property and a washed-out holiday. we will see who is best poised to recover quickest. >>> and how do you secure that crane, and we're looking live at the crane dangling precariously over west 57th street in manhattanch the latest on "power lunch." now back to scott and "fafl half." >> let's get over to bob pisani at the news desk and a statement from the new york stock exchange regarding tomorrow. >> we do, and it looks like all statements are go. let me read the statement. the nyse will open with all normal trading with equity and bond markets and derivative options on wednesday, october 31st. trading will commence on the nyse exchange at 9:30 a.m. under normal opening procedures, and the nyse building and trading floor are fully operational. the ceo pending a statement saying we're pleased we turn
today on "power lunch," surviving sandy. three important areas we're going to focus on, insurance and the frightening comparison. one insurance executive is making about the impact of sandy. a hit to the retail sector, damage to property and a washed-out holiday. we will see who is best poised to recover quickest. >>> and how do you secure that crane, and we're looking live at the crane dangling precariously over west 57th street in manhattanch the latest on "power...
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Oct 31, 2012
10/12
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sandy is one of them. the real economy might end up being boostered far more than we initially thought, simply because the federal government is stepping up to get the job done. logan in texas. logan? >> caller: boo-yah, jim. hope all is well. >> it's all right. thank you, logan. thanks for asking. how are you? >> caller: i'm doing great. i think it was about two months i called you and i was asking about the stocks beacon roofing. you said you liked the stock but thought that it could get it at a lower price. since then, the stock has continued to rise, and today in particular. so i was wondering, do you think it's going to continue to rise or is it going to slump back? >> well, i'm glad that you called me on me, but i liked the stock but didn't tell you to buy it. that was a mistake. i like beacon. beacon is a better trade. can it come down? i think it can come down, but this time you gotta buy it and it doesn't have to come down too much to pull the trigger. donna in texas. >> caller: oh, happy boo-yah,
sandy is one of them. the real economy might end up being boostered far more than we initially thought, simply because the federal government is stepping up to get the job done. logan in texas. logan? >> caller: boo-yah, jim. hope all is well. >> it's all right. thank you, logan. thanks for asking. how are you? >> caller: i'm doing great. i think it was about two months i called you and i was asking about the stocks beacon roofing. you said you liked the stock but thought that...
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Nov 28, 2012
11/12
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some people were saying maybe they're a little softer because of sandy. at the same time, we have september revised lower, should we be a little bit concerned that there's a touch of a slowdown in this recovery within the context of recovery. >> you get any stack of numbers from anyone they differ between another stack of number. you can assess it, analyze it to death and read into it what you want. you can say sandy's at fault here, not at fault, i'm telling you, the housing market is stronger than people think it is. the price appreciation you're going to see over the next few years unless i don't know a thing about real estate. i made my living my whole life and i'm usually right, it's going to go much higher than people anticipate. if you look at the latest zillow report, 12 out of 12 months appreciation, if that's not a trend, that should put all the naysayers to bed, what? it's a great time to buy and a terrible time to sell. unless you're going to wait awe few months then you're going to get more for it tomorrow. >> barbara, always good to see you.
some people were saying maybe they're a little softer because of sandy. at the same time, we have september revised lower, should we be a little bit concerned that there's a touch of a slowdown in this recovery within the context of recovery. >> you get any stack of numbers from anyone they differ between another stack of number. you can assess it, analyze it to death and read into it what you want. you can say sandy's at fault here, not at fault, i'm telling you, the housing market is...
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Oct 30, 2012
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meantime, all the news today not about sandy. a major deal disney announced it's adding "star wars" and "indiana jones" to its library. acquiring lucas jones, worth $4 billion. our julia boorstin at disney headquarters exculusively with the latest. >> reporter: $4.05 billion. disney is acquiring lucas film, half cash and half stock. in the acquisition they're acquiring the rights to the "star wars" franchise which goesed over $4.4 being worldwide as well as special effects studio industrial light and magic and sky walker sound. disney says it plans to release "star wars" episode seven in 2015. that's the same year it says the acquisition will become accretive to disney's bottom line saying it plans to release more films in the star wars franchise every two to three years. >> this was also a very unique opportunity. when you look at the world of entertainment, there's almost nothing like this. this is one of the most iconic, one of the most successful, one of the highest quality entertainment brands that exists in the world. and w
meantime, all the news today not about sandy. a major deal disney announced it's adding "star wars" and "indiana jones" to its library. acquiring lucas jones, worth $4 billion. our julia boorstin at disney headquarters exculusively with the latest. >> reporter: $4.05 billion. disney is acquiring lucas film, half cash and half stock. in the acquisition they're acquiring the rights to the "star wars" franchise which goesed over $4.4 being worldwide as well as...
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Oct 26, 2012
10/12
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they're pretty well reserved for sandy. of course, estimating any potential damage is difficult now. it will depend on the strength of the winds and of course the storm surge. but keep in mind hundreds of billions of dollars worth of residential property are in the path of this storm. >> mary, for the moment, thank you very much. >>> meantime, one of the most interesting things over the last 24 hours has been the resilience of apple stock on the back, of course, of its earnings miss. pre-orders for the ipad mini being taken today. can the business keep up with demands or is it turning into a case of whether apple can keep demand going. >>> plus, ahead in the show, united airlines pilots up in arms after a key safety feature is taken away from their planes. jane wells, what on earth is going on? >> reporter: simon, say you bought a new car, had an extra piece of safety equipment in it, like an extra air bag. wasn't mandatory but came with the car. would you pay to take it out? united has done something similar with the 787 a
they're pretty well reserved for sandy. of course, estimating any potential damage is difficult now. it will depend on the strength of the winds and of course the storm surge. but keep in mind hundreds of billions of dollars worth of residential property are in the path of this storm. >> mary, for the moment, thank you very much. >>> meantime, one of the most interesting things over the last 24 hours has been the resilience of apple stock on the back, of course, of its earnings...
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Dec 7, 2012
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and all this despite the effects of hurricane sandy. who knows how high we could have been if it weren't for that darn hurricane? yet the market barely blinked. yet the potential layoffs if we go over the cliff make these rearview numbers seem almost irrelevant to the market. hence the mixed performance of the averages today. sure, dow gained 81 points, but the s&p barely budged, edging up 29%. and the nasdaq actually declined .38%, led once again by the slip sliding away apple, which you know i like, but how many times during a particular show can i say i like it? so with that in mind, what's the game plan for next week? first off, perhaps the most important day of the week is monday. but not for any earnings. not for any releases. that's when we process the results of the weekend talk shows, which you now have to watch as if we were instead of watching, you know, college gameday, i'm watching like some of those other news stations -- and then of course sunday morning whoever -- you don't even pay attention -- football means nothing no
and all this despite the effects of hurricane sandy. who knows how high we could have been if it weren't for that darn hurricane? yet the market barely blinked. yet the potential layoffs if we go over the cliff make these rearview numbers seem almost irrelevant to the market. hence the mixed performance of the averages today. sure, dow gained 81 points, but the s&p barely budged, edging up 29%. and the nasdaq actually declined .38%, led once again by the slip sliding away apple, which you...
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Dec 6, 2012
12/12
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as soon as you get done figuring out, how much is sandy, how much is not sandy, we have to start dealing with the fiscal cliff so there's a shock behind us and a shock in front of us. so we're in limbo right now. and we're expecting a big effect from sandy in the friday number, especially in maybe the household survey, they moved the survey week back a week. because of an early thanksgiving. they do that -- so instead of it being the week of the 12th, it's the week of the 5th. >> so this number is going to tell us nothing tomorrow? > know there's going to be a lot of discussion about it. i'll stick to my guns, it's a 125 to 150 economy growth some of that could be sandy. i don't donknow if you want to k about that chart. this looks at the net effect acceptable. if 30% say it's acceptable and 20% say -- these are what we asked people. how many is that? that's five of eight different solutions. >> people say, yes, we're okay dealing with the fiscal cliff, if you raise taxes on those who make more than $250,000 and then you cap deductions, and virtually everything else is off the table. >>
as soon as you get done figuring out, how much is sandy, how much is not sandy, we have to start dealing with the fiscal cliff so there's a shock behind us and a shock in front of us. so we're in limbo right now. and we're expecting a big effect from sandy in the friday number, especially in maybe the household survey, they moved the survey week back a week. because of an early thanksgiving. they do that -- so instead of it being the week of the 12th, it's the week of the 5th. >> so this...
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Oct 31, 2012
10/12
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how is the first day of trading since hurricane sandy? let's ask managing director at lessard national markets. >> it is good to be back. two days seems like an etesht when you're trying to place a bet and express an opinion in this marketplace so it is very difficult to wait this out. obviously a terrible tragedy, this national disaster. but we have to balance out the fact that we are back in business with the fact that, as bob just pointed out, it is very difficult to get to new york right now. i would tell you that the volumes aren't three days worth of volumes all wrapped up in one. we'll see that normalize over the course of the week. >> indeed. it is horrible to talk about these things in light of the tragedy that's ensued. but nonetheless, what are you doing in terms of making a buck? for example, where is the trade in the wake of the hurricane? >> one of the things you'll want to be very careful is on the overshoot. pisani just pointed out a few things. obviously people look at the home depots and lowlowe's and t a step further an
how is the first day of trading since hurricane sandy? let's ask managing director at lessard national markets. >> it is good to be back. two days seems like an etesht when you're trying to place a bet and express an opinion in this marketplace so it is very difficult to wait this out. obviously a terrible tragedy, this national disaster. but we have to balance out the fact that we are back in business with the fact that, as bob just pointed out, it is very difficult to get to new york...
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Nov 2, 2012
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if people would give money to sandy relief. city meals is
if people would give money to sandy relief. city meals is
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Nov 5, 2012
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blame it on sandy. express groups missed that will be interesting to see how it affects walgreen tomorrow. >> the stock has been a monster. they filed a mix shelf. i don't think that's going to matter. it might trade 66 in a couple months. it's at least going to 50. >> speaking of monster, monster beverage, up 2%. scott? >> they got a love letter in the media, which pointed out they own a third of the impressive and growing energy drink market. and the last time we talked about this stock, it was because they were being sued, a really unfortunate situation. i think the market likes that we haven't seen a pile-on by other plaintiffs. >>> and finally, a pop for pigskin politics. here is a positive sign for the romney campaign, according to the redskins koul rule. if the washington redskins win their last home game before a race, the incumbent party will win the presidency. on sunday, as you know, the redskins lost to the carolina panthers at home. but if you're not a firm believer in pigskin politics, con
blame it on sandy. express groups missed that will be interesting to see how it affects walgreen tomorrow. >> the stock has been a monster. they filed a mix shelf. i don't think that's going to matter. it might trade 66 in a couple months. it's at least going to 50. >> speaking of monster, monster beverage, up 2%. scott? >> they got a love letter in the media, which pointed out they own a third of the impressive and growing energy drink market. and the last time we talked...
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Nov 29, 2013
11/13
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upbeat music] ♪ this week, i'm going to keyport, new jersey, a town that was devastated by hurricane sandy in 2012. i'm going to meet the owners of mr. green tea, a gourmet ice cream company. for nearly 50 years, mr. green tea has been hand-crafting exotic ice cream flavors and supplying the asian restaurant trade in new york city. >> so delicious. >> way ahead of their time, mr. green tea was producing flavors like green tea, ginger, and red bean. this family business was founded by richard's dad, santo emanuele, in 1968, who ran it with richard's older brother, james. richard's dad passed away, and then his brother died unexpectedly, leaving richard to run the business. richard wanted to keep his family legacy alive, so he took over the business and brought his son, michael, with him. >> michael, there's multiple problems. we gotta do what we gotta do. >> unlike many of the businesses i help, mr. green tea isn't facing a crisis. they generated over $2.5 million a year in revenue, and the emanueles make a very good living, but the business is static. >> i have such a hard time making this
upbeat music] ♪ this week, i'm going to keyport, new jersey, a town that was devastated by hurricane sandy in 2012. i'm going to meet the owners of mr. green tea, a gourmet ice cream company. for nearly 50 years, mr. green tea has been hand-crafting exotic ice cream flavors and supplying the asian restaurant trade in new york city. >> so delicious. >> way ahead of their time, mr. green tea was producing flavors like green tea, ginger, and red bean. this family business was founded...
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Nov 1, 2012
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sandy is one of them. the real economy might end up being boostered far more than we initially thought, simply because the federal government is stepping up to get the job done. logan in texas. logan? >> caller: boo-yah, jim. hope all is well. >> it's all right. thank you, logan. thanks for asking. how are you? >> caller: i'm doing great. i think it was about two months i called you and i was asking about the stocks beacon roofing. ticker becn. you said you liked the stock but thought that it could get it at a lower price. since then, the stock has continued to rise and today in particular it had a spike. so i was wondering, do you think it's going to continue to rise or is it going to slump back? >> well, i'm glad that you called me on me, but i liked the stock but didn't tell you to buy it. that was a mistake. you should have been die -- buying it. i like beacon. beacon is a better trade. can it come down? i think it can come down, but this time you gotta buy it and it doesn't have to come down too much
sandy is one of them. the real economy might end up being boostered far more than we initially thought, simply because the federal government is stepping up to get the job done. logan in texas. logan? >> caller: boo-yah, jim. hope all is well. >> it's all right. thank you, logan. thanks for asking. how are you? >> caller: i'm doing great. i think it was about two months i called you and i was asking about the stocks beacon roofing. ticker becn. you said you liked the stock but...
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Nov 15, 2012
11/12
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we've also seen some problems along the east coast after sandy. there are a lot of issues along the supply chain that really need to be corrected perhaps before we get to these projections, even if we're able to produce as much oil as the international energy agency is saying, will we have the infrastructure to support it at that time before 2020? >> you're mentioning an important point here. infrastructure is needed. with our experience when you start to produce infrastructure will follow, so it's either we are investing as oil companies or we're asking oil companies to invest in the mid stream and to the downstream which is pipelines and terminals, refineries et cetera. i think these will come. clearly the company needs more infrastructure, like light oil or oil shale gas is not in the normal centers like we used to have at the gulf coast, et cetera, so therefore investments in pipelines, gas facilities and therefore also refineries will be very important but normally when the natural resources are there, the investments are coming. let me also
we've also seen some problems along the east coast after sandy. there are a lot of issues along the supply chain that really need to be corrected perhaps before we get to these projections, even if we're able to produce as much oil as the international energy agency is saying, will we have the infrastructure to support it at that time before 2020? >> you're mentioning an important point here. infrastructure is needed. with our experience when you start to produce infrastructure will...
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Dec 11, 2012
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i don't know -- >> sandy didn't do it. >> i don't know how to make it any better. all right, time heals all wounds. hopefully next time we'll hear some better news from you. >> i hope so, too. thanks, joe, thanks andrew. >> maybe we'll get some better news right now. steve liesman joins us with the results there cnbc's latest fed survey. steve? can you make it any better? >> i don't know about that. what we have, andrew, is overwhelming support from our -- or expectation from our respondents, 48 respondents, economists, wall street strategists, and analysts, that the fed will replace twist with outright asset purchases. disagreement on how they'll do it and increasing concern about all these purchases and the effect on the market. let's start off with the disagreement about how they're going to do it. we asked people, will the fed purchase only treasuries when it replaces operation twist? or will it purchase treasuries and mortgages? you can see that they're about split on this. unclear what chairman bernanke is going to announce tomorrow. now, how about how much q
i don't know -- >> sandy didn't do it. >> i don't know how to make it any better. all right, time heals all wounds. hopefully next time we'll hear some better news from you. >> i hope so, too. thanks, joe, thanks andrew. >> maybe we'll get some better news right now. steve liesman joins us with the results there cnbc's latest fed survey. steve? can you make it any better? >> i don't know about that. what we have, andrew, is overwhelming support from our -- or...
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Dec 18, 2012
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they are donating $10,000 worth of target gift cards to the sandy hook elementary school. as you know, those children will not be returning to that school in the near future. maybe never. they are going to be going to school in monroe, new york. they are donating those gift cards so administrators can use those to restock that school with supplies because it's not being used right now. nice thing for target to do. >>> let's take a look at the markets right now. dow jones industrial average
they are donating $10,000 worth of target gift cards to the sandy hook elementary school. as you know, those children will not be returning to that school in the near future. maybe never. they are going to be going to school in monroe, new york. they are donating those gift cards so administrators can use those to restock that school with supplies because it's not being used right now. nice thing for target to do. >>> let's take a look at the markets right now. dow jones industrial...
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Nov 12, 2012
11/12
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this is the first real indication of what the sandy impact has been. what do you expect as biggest upside and down side. >> from a couple of fronts when you are looking at upside not that there is upside to anything that tragic but from a retail point of view they should do reasonably well particularly home depot that does a good job of adjusting strategies to meet the needs of these kinds of things. home depot you will see interesting dynamics probably in the fourth quarter numbers more so than the third. lowe's is a week later. on the down side you have to be looking at retailers looking at exposure to the new york metropolitan area and second is retailers with discretionary spend that is not cheap. and that would worry us a tiny bit for macy's given what they are staring at. that seems like the type of retail business would be exposed. then you have a whole host of dynamic setbacks as you start to celebrate the holiday season. >> are you getting a good read in terms of momentum going into the holiday season given the hurricane sandy impact might clo
this is the first real indication of what the sandy impact has been. what do you expect as biggest upside and down side. >> from a couple of fronts when you are looking at upside not that there is upside to anything that tragic but from a retail point of view they should do reasonably well particularly home depot that does a good job of adjusting strategies to meet the needs of these kinds of things. home depot you will see interesting dynamics probably in the fourth quarter numbers more...
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Oct 26, 2012
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. >>> we're bracing for sandy here at cnn and elsewhere. what businesses are doing in advance of the monster storm headed for the coast. >>> the story on power. now back it brian and more on the fast half. >> thank you very much. >>> guys, i got to call a quick audible. breaking news. the sec charging a silicon valley second fifth for an alleged role in the raj rajaratnam case. here's what the sec is alleging. just allegations, the sec alleging that chris chellum tipped rajaratnam in december, 2006, with confidential details from internal company reports indicating that xlnx would fall short of revenue projections it had previously made publicly which enabled rajaratnam to short xlnx. they're not indicating anything about xlnx other than charging chris chellum, executive. obviously don't have a statement from him. these are allegations. but it is out. the sec going after a former or current xlnx executive. that story developing on what is a busy friday. >>> the first read on third quarter gdp wasn't too shabby. showed 2% growth. and that th
. >>> we're bracing for sandy here at cnn and elsewhere. what businesses are doing in advance of the monster storm headed for the coast. >>> the story on power. now back it brian and more on the fast half. >> thank you very much. >>> guys, i got to call a quick audible. breaking news. the sec charging a silicon valley second fifth for an alleged role in the raj rajaratnam case. here's what the sec is alleging. just allegations, the sec alleging that chris...
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and it's likely superstorm sandy slowed business at the end of the month. >>> well, he is a rare breed, a wall street insider who has the president's ear. what is president obama thinking these days? and what can we expect of the fiscal cliff negotiations? robert wolf is an outside adviser to president obama. a former president of investment banking at ubs and now ceo of the firm 32 advisers. robert, great to see you. >> great to be here, maria. >> thanks for joining us. so you are a rare breed. you're a top wall street executive, but you have a very close relationship with the president. so talk to us about this drama over the fiscal cliff. are we still in the positive touring stage? how does this play out? >> i hope it plays out with a deal. i would have probably put it around 80% a deal. but i would have sliced it this way. i would say 50% of that 80 is that they come up with, like, $60 billion. which is six months of the ten years of the $1.2 trillion sequester. >> okay. >> okay? >> so that's a drop in the bucket. >> a drop in the bucket. so you could do that. and is that would als
and it's likely superstorm sandy slowed business at the end of the month. >>> well, he is a rare breed, a wall street insider who has the president's ear. what is president obama thinking these days? and what can we expect of the fiscal cliff negotiations? robert wolf is an outside adviser to president obama. a former president of investment banking at ubs and now ceo of the firm 32 advisers. robert, great to see you. >> great to be here, maria. >> thanks for joining us. so...